Invesco BulletShares Correlations

BSJQ Etf  USD 23.40  0.03  0.13%   
The current 90-days correlation between Invesco BulletShares 2026 and Invesco BulletShares 2025 is 0.64 (i.e., Poor diversification). The correlation of Invesco BulletShares is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco BulletShares Correlation With Market

Weak diversification

The correlation between Invesco BulletShares 2026 and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2026 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco BulletShares 2026. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Invesco Etf

  0.91BSCP Invesco BulletShares 2025PairCorr
  0.9IBDQ iShares iBonds DecPairCorr
  0.94BSCQ Invesco BulletShares 2026PairCorr
  0.94IBDR iShares iBonds DecPairCorr
  0.93IBDS iShares iBonds DecPairCorr
  0.91MLPR ETRACS Quarterly PayPairCorr
  0.8ATMP Barclays ETN Select Low VolatilityPairCorr
  0.64RXI iShares Global ConsumerPairCorr
  0.8IBM International Business Sell-off TrendPairCorr
  0.68KO Coca ColaPairCorr
  0.89JPM JPMorgan ChasePairCorr
  0.91CSCO Cisco SystemsPairCorr

Moving against Invesco Etf

  0.39USD ProShares Ultra SemiPairCorr
  0.78MRK Merck Company Aggressive PushPairCorr
  0.58MSFT MicrosoftPairCorr
  0.58AA Alcoa CorpPairCorr
  0.39CAT CaterpillarPairCorr
  0.35HPQ HP IncPairCorr
  0.33DIS Walt DisneyPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
JPMMETA
CRMMSFT
TMETA
TUBER
JPMUBER
XOMF
  
High negative correlations   
MRKMETA
MRKJPM
MRKT
MRKUBER
UBERMSFT
FMETA

Invesco BulletShares Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco BulletShares ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Invesco BulletShares' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.36  0.28  0.17  0.57  1.44 
 3.22 
 7.11 
MSFT  1.03 (0.05) 0.00 (0.16) 0.00 
 2.20 
 10.31 
UBER  1.95  0.16  0.06  3.78  2.78 
 4.72 
 12.29 
F  1.35 (0.11) 0.00 (0.13) 0.00 
 2.55 
 10.97 
T  0.94  0.30  0.27  0.50  0.88 
 1.90 
 7.94 
A  1.07 (0.03) 0.00 (0.07) 0.00 
 2.81 
 9.03 
CRM  1.45 (0.15) 0.00 (0.22) 0.00 
 2.21 
 15.92 
JPM  0.89  0.14  0.11  0.15  1.16 
 1.97 
 6.85 
MRK  1.26 (0.10) 0.00 (2.54) 0.00 
 2.15 
 11.57 
XOM  0.91 (0.12) 0.00 (0.43) 0.00 
 1.76 
 5.69